0040 GMT - USD/JPY's outlook remains bearish, based on its daily chart, says Fawad Razaqzada, market analyst at City Index and FOREX.com, in an email. This is indicated by downward sloping moving averages and bearish trendline on the chart, Razaqzada says. Also, USD/JPY's attempted breakout above this trendline has clearly failed, with the currency pair turning sharply lower, the analyst says. "USD/JPY could be on the verge of a more significant breakdown and this time it may even go on to take out that key 142.00-143.10 support area," Razaqzada says. USD/JPY is 0.2% lower at 143.85. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
May 29, 2025 20:40 ET (00:40 GMT)
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